If the Price of a Resource Increases, Other Things Constant

question 206

Multiple Choice

If the price of a resource increases, other things constant, less of that resource will be hired because

• A)producers will substitute away from that resource
• B)producers fear starting a trend toward higher resource prices
• C)the demand curve for the product will shift to the left
• D)highly paid resources don't produce as much
• E)it makes other resources look expensive as well

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Definitions:

Unconditioned Stimulus

A stimulus that naturally and automatically triggers a response without needing prior learning.

Spontaneous Recovery

The return of a conditioned response that had vanished, following a pause where the conditioned stimulus was not presented.

Classical Conditioning

The conditioning process of repeatedly associating two stimuli together, such that a reaction first brought about by the second stimulus is later brought about by the first stimulus alone.

Misusing Punishment

The incorrect application of punishment that can lead to unwanted consequences, such as reinforcing the undesired behavior it seeks to discourage.